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A fiduciary financial advisor is legally obligated to act in your best interest at all times. This is a higher standard of care than the suitability standard in the financial services industry. Fiduciaries must put your needs ahead of their own, disclose any conflicts of interest, and provide advice that serves your financial goals.
What is it? A fiduciary duty is a legal and ethical obligation to act solely in the client's best interest. Unlike the 'suitability' standard, which allows advisors to sell adequate but potentially inferior (and higher commission) products, a fiduciary must seek solutions that serve your interests.
Highest level of trust and legal protection; Objective advice.
Fiduciary advisors may have minimum asset requirements or higher fees than commission-based salespeople.
Anyone who wants professional financial advice they can trust implicitly, without worrying about hidden sales agendas.
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Look for an advisor who is a fiduciary, meaning they are legally required to act in your best interest. Consider their fee structure (fee-only is often preferred), credentials (like CFP®), and experience with clients in your specific financial situation.
These terms are often used interchangeably, but 'Financial Planner' often implies a focus on comprehensive long-term planning (retirement, estate, tax), whereas 'Financial Advisor' may focus more on investment management. Look for the CFP® designation for rigorous planning expertise.
Costs vary. Fee-only advisors typically charge a percentage of assets under management (often ~1%), an hourly rate ($200-$400/hr), or a flat annual fee. Always ask for a clear explanation of all fees in writing.
Finding the right financial advisor is crucial for achieving your financial goals. Browse 16 qualified advisors and find the perfect match for your financial planning needs.